JSW Steel on Friday announced its fiscal third quarter business update reporting its highest ever consolidated steel production for Q3FY25 at 7.03 million tonnes. This was 2 per cent higher as compared to 6.87 million tonnes reported in Q3FY24. Sequentially, it had risen by 4 per cent with the company recording steel production during Q2FY25 at 6.77 million tonnes.
JSW Steel’s India operations also posted its highest ever crude steel production at 6.82 million tonnes, which was higher by 3 per cent on year as against 6.63 million tonnes during Q3FY24. On a QoQ basis as well, it went up by 3 per cent from 6.63 million tonnes reported during Q2FY25.
Also ReadDunzo co-founder Kabeer Biswas to head Flipkart Minutes
JSW Steel USA – Ohio business posted steel production at 0.21 million tonnes during Q3FY25.
In a regulatory filing, the company said, capacity utilisation at Indian operations excluding trial run stood at 91 per cent for Q3 FY25. Production and capacity utilisation for the quarter was affected due to temporary maintenance activity at one of the Blast furnaces at Dolvi in the month of October, which resumed normal operations in the first week of November.
On a nine-month basis, JSW Steel’s total combined volumes grew by 1.35 per cent to 20.16 million tonnes in 9M FY25. It had recorded total combined volumes during 9M FY24 at 19.89 million tonnes.
JSW Steel further said that a 5 MTPA Integrated Steel Project at Vijayanagar, set up by a wholly owned subsidiary of the company, JSW Vijayanagar Metallics Ltd. (JVML), is progressing well. Post commissioning of 4.5 MTPA Blast Furnace, Raw Material Handling System and Sinter Plant in Q2FY25, JVML commissioned one out of the two Convertors and Castors at the Steel Melt Shop during Q3FY25. “The ramp up of production at the 5 MTPA JVML integrated facility is expected in Q4FY25. Once fully ramped up, the total crude steel capacity at Vijayanagar will increase to 17.5 MTPA, contributing to JSW Steel’s overall Indian operation’s crude steel capacity rising from 29.2 MTPA to 34.2 MTPA,” it said.
Earlier in October, JSW Steel reported its fiscal second quarter earnings with profit of Rs 404 crore, down 85.4 per cent in comparison to Rs 2773 crore recorded during the corresponding quarter of FY24.
» Read More
